Press release
Conclusion of the Celtic Interconnector agreements between France and Ireland
From Department of the Environment, Climate and Communications
Published on
Last updated on
From Department of the Environment, Climate and Communications
Published on
Last updated on
The Taoiseach Micheál Martin, French Minister Agnès Pannier-Runacher and Irish Minister Eamon Ryan met in Paris today (25 November) for the signature of the technical agreements and financing of the Celtic Interconnector.
These agreements were signed in the presence of the French Minister of the Energy Transition Agnès Pannier-Runacher and the Irish Minister for the Environment, Climate and Communications Eamon Ryan, as well as Xavier Piechacyzk, President of the RTE managing board and by Mark Foley, Director General of EirGrid, the Irish operator of electricity transmission system.
Developed by EirGrid and RTE France, the Celtic Interconnector is a 700-megawatt (700MW) high voltage, sub-marine power cable linking the south coast of Ireland to the north of France. It will be Ireland's first interconnection with mainland Europe.
Agreements have been signed for the construction with Siemens Energy and French cable manufacturer Nexans, and for the financing, to the tune of €800 million, by the European Investment Bank, Danske Bank, Barclays and BNP.
These agreements will allow the project to enter into an operational phase, which will see the start of works in 2023. The cable will run 575 kilometres from the south coast of Ireland to the northwest coast of Brittany and will be able to import and export enough electricity to power 450,000 homes. The project is expected to be built and operational by 2026.
The Interconnector will link the commune of La Martyre in Brittany to the village of Knockraha in County Cork, Ireland, which have been identified as the optimum locations for grid connection in both countries.
The strategic nature of this project was recognised by the European Union, which partially funded it and designated it as a Project of Common Interest (PCI). A PCI is an infrastructure project that connects the energy systems of EU states and gives access to financial support through the European Interconnection Mechanism (EIM) loan instrument – a fund for developing Europe's energy, transport and telecommunications networks.
In 2019, RTE and EirGrid secured €530.7 million of CEF (Connecting Europe Facility) funding for the project.
The Taoiseach Micheál Martin said:
"The Celtic Interconnector will help bring costs down and increase security of supply for Irish and French energy consumers. It will facilitate the increased use of renewable energy, improve telecommunications security and better integrate European electricity markets. Today marks an important milestone in Ireland's cooperation with its EU partners to ensure a low carbon energy transition."
Agnès Pannier-Runacher, France’s Minister for Energy Transition, said:
"The Celtic Interconnector is a great step forward: it will strengthen the energy partnership between France and Ireland, reflecting the strength of our bilateral relations. This interconnection will help to secure the French and European electricity supply, and will accelerate the use of renewable energy throughout Europe."
Eamon Ryan, Ireland’s Minister for Environment, Climate and Communications, said:
"The Celtic Interconnector technical and financing agreements confirmed today are the starting point for the construction of this historic subsea cable between East Cork and Brittany. It will connect the Irish and French electricity networks and will improve the security of our electricity supply, help us to achieve our climate objectives and reduce the cost of electricity. It means that we can import energy from Europe when we need it, and critically, it means that we can also export energy, particularly when we begin to realise the enormous potential of our off-shore wind capacity."
Paschal Donohoe, Ireland’s Minister for Finance and Member of the Board of Governors of the European Investment Bank, said:
"Enabling large-scale energy transmission investment is essential to harness renewable energy potential, deliver climate goals and cut electricity bills. I welcome today’s financing and technical agreements that will enable the Celtic Interconnector to connect Ireland to the European Union electricity market and congratulate the European Investment Bank for backing this project."
Kadri Simson, Energy Commissioner, said:
"Russia’s use of energy as a weapon has reinforced the need to make EU energy system more interconnected, more reliable and efficient. In 2019, RTE and EirGrid secured €530.7 million of Connecting Europe Facility funding for the project. The Celtic Interconnector will help us achieve just that: improving the security of electricity supply in Ireland and supporting the development of renewable energy in both Ireland and France. Today, Ireland, France and the EU as a whole are showing to the world how European solidarity works in the energy sector."
ENDS